Allspring Global Investments Holdings LLC Cuts Stock Holdings in Steven Madden, Ltd. $SHOO

Key Points

• Allspring Global Investments cut its Steven Madden stake by 17.1% in the first quarter, selling 199,715 shares and ending with 967,251 shares valued at about $32.9 million.
• Steven Madden reported better-than-expected quarterly results, with EPS of $0.45 topping estimates and revenue rising 18% year over year to $653.1 million.
• Analysts remain mostly positive on SHOO, with the stock carrying a “Moderate Buy” consensus and an average price target of $45.12, while the company also pays a $0.84 annualized dividend yield of about 1.9%.

Allspring Global Investments Holdings LLC lowered its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 967,251 shares of the textile maker's stock after selling 199,715 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.32% of Steven Madden worth $32,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SHOO. AQR Capital Management LLC purchased a new stake in shares of Steven Madden during the first quarter valued at $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Steven Madden by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker's stock worth $1,143,000 after buying an additional 1,437 shares during the last quarter. Millennium Management LLC raised its position in Steven Madden by 1,170.4% in the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker's stock worth $16,438,000 after buying an additional 568,477 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Steven Madden by 5.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker's stock valued at $5,388,000 after acquiring an additional 10,603 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Steven Madden by 273.1% during the 1st quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker's stock valued at $4,196,000 after acquiring an additional 115,284 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Stock Performance

Shares of SHOO stock opened at $43.42 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.23 and a quick ratio of 1.42. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 41.35 and a beta of 1.15. Steven Madden, Ltd. has a 1 year low of $22.26 and a 1 year high of $47.10. The firm has a fifty day moving average price of $42.23 and a 200-day moving average price of $39.89.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results on Wednesday, May 6th. The textile maker reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $653.10 million for the quarter, compared to the consensus estimate of $646.64 million. Steven Madden had a return on equity of 12.29% and a net margin of 2.89%.Steven Madden's quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. As a group, equities analysts predict that Steven Madden, Ltd. will post 2.09 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Monday, June 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. Steven Madden's payout ratio is 80.00%.

Insider Activity at Steven Madden

In other Steven Madden news, insider Christina Ciglar sold 5,147 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $44.74, for a total transaction of $230,276.78. Following the sale, the insider owned 35,200 shares in the company, valued at approximately $1,574,848. This trade represents a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arian Simone Reed sold 648 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $39.97, for a total value of $25,900.56. Following the completion of the sale, the director owned 8,057 shares of the company's stock, valued at $322,038.29. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,270 shares of company stock valued at $276,992 over the last three months. 2.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SHOO shares. Wall Street Zen upgraded shares of Steven Madden from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. UBS Group reissued a "neutral" rating and set a $40.00 price target (up from $38.00) on shares of Steven Madden in a report on Monday, April 27th. BTIG Research restated a "buy" rating and issued a $50.00 price target on shares of Steven Madden in a research note on Thursday, June 4th. Zacks Research raised Steven Madden from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Steven Madden in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.12.

Steven Madden Company Profile

Steven Madden, Inc NASDAQ: SHOO is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company's product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.

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